itSMF Bulletin December 2021 | Page 8

IT Service Cost Tracking Impact: EMA Research Findings

Recent EMA research shows that accurately tracking the cost of services improves the relationship/alignment with the business, significantly reduces IT service costs, and increases IT budgets. EMA enlisted candid insights from 255 global IT leaders (managers, directors, VP, and C-suite) in North America, EMEA, and APAC. The participants were evenly distributed across enterprises of 1,000-20,000+ employees from finance, high tech, manufacturing, healthcare, and retail industries.

They found that the direct benefits from IT service cost tracking are almost universally big in two distinct areas: almost 100% of participants report cost savings, and 92% report a positive impact on the relationship between IT and the business. Having accurate knowledge of IT service costs makes a big

positive impact on the relationship between IT and the business it serves, in part because it naturally puts the parties in alignment. In short, when IT conducts itself in a business-aligned manner, as in accurately knowing and saving costs, the business responds positively with respect and budget.

More information

You can find more information about effective service cost tracking and the EMA research findings in the following papers:

·       Service Cost Tracking: How to Capture

Enterprise Service Costs and Provide

Actionable Management Reporting. (White

Paper)

·       Service Cost Tracking in ITSM: The Missing

Link Between IT Service Quality and

Business Value (EMA eBook)

·       IT Service Cost Tracking Impact: Research

Findings (EMA)

  

4me® combines ITSM with ESM and SIAM capabilities, enabling all internal departments, such as IT, HR, and Facilities, as well as external managed service providers, to work seamlessly with each other. At the same time, 4me provides complete visibility and control of service cost and quality.

If you want to learn more about how you can use modern software to capture enterprise service costs and provide actionable management reporting, visit the 4me website and download our whitepaper on service cost tracking today.

About

the Author

Cor Winkler Prins

Cor is the CEO and co-founder of 4me, the first service management solution that enables seamless collaboration between enterprises and their external providers.

 He started his career in the service management industry in 1996, helping to set up the global consulting organization for what later became HP OpenView Service Desk. As a consultant, Cor has assisted many large enterprises over the years with their global ITSM deployments. These include Procter & Gamble, Philip Morris, and Roche.

Cor’s main interests are the financial aspects of service management and helping managers optimize service levels while continuously driving down service costs.